In the first 9 months of the year, the corporate bond market recorded 268 private issuances and 15 public issuances, with a total value of VND277,450 billion.
According to statistics from the Vietnam Bond Market Association (VBMA), in September 2024 alone, there were 24 successful private corporate bond issuances with a mobilized value of VND 22,333 billion, down more than 41% compared to the previous month. This month, there was only one public issuance conducted by Viet Capital Commercial Joint Stock Bank to mobilize VND 1,467 billion, down 84% compared to the previous month.
Banking and real estate sectors still account for the majority of issuance volume with proportions of 72% and 19% respectively, an insignificant difference compared to August.
The banking industry recorded 20 successful issuances in September. Leading in terms of mobilized value were VIB with VND4,000 billion, OCB VND3,500 billion, VietinBank VND2,850 billion, HDBank VND2,500 billion and Sacombank VND2,000 billion.
The highest issuance interest rate during this period belongs to the bond lot of two real estate enterprises, Truong Loc Real Estate Investment and Development Company Limited and Phat Dat Real Estate Investment and Development Company Limited, reaching 12% per year.
Enterprises bought back VND11,749 billion of bonds before maturity, up 2% over the same period last year. It is estimated that there are about VND79,858 billion of bonds maturing in the last months of the year. Most of these are real estate bonds with VND35,137 billion, equivalent to 44%.
In the first 9 months, there were 268 private issuances worth VND250,396 billion and 15 public issuances worth VND27,054 billion. The total value mobilized through corporate bonds since the beginning of the year reached VND277,450 billion, up 73% over the same period.
In the coming time, there will be 2 issuance deals announced. Specifically, Vietjet has approved the plan to issue individual bonds in the third and fourth quarters of 2024, with a maximum total value of VND 2,000 billion. These are non-convertible bonds, without warrants, without collateral, with a face value of VND 100 million/bond.
In addition, TDG Global Investment Joint Stock Company also approved a plan to issue individual bonds in the third quarter of 2024 with a maximum total value of VND 100 billion. These are non-convertible bonds, without warrants, with collateral, with a face value of VND 100 million/bond. The bonds have a term of 3 years, with an interest rate of 12.5% per year for the first two periods.
In the report at the end of August 2024, FiinRatings said that recently, a large number of businesses continued to request deferral of principal payments and revision of repurchase plans, so the immediate payment pressure was relieved. This helps businesses have more time to focus on handling difficulties in production and business and balancing cash flow to repay debts, especially for the real estate group when debt repayment capacity is still low in the context of a slow recovery of the housing market.
Banks continue to be the main entities carrying out repurchases. The repurchase of maturing bonds and new issuance by banks are aimed at meeting safety ratios.
Regarding secondary market trading yields, bank bonds still maintain yield rates ranging from 5-8%, while yields of non-bank corporate groups are mainly from 7-13%.
Source: https://baodautu.vn/hon-277000-ty-dong-trai-phieu-duoc-huy-dong-d227196.html
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